San Francisco based cryptocurrency exchange, Coinbase Inc. has today launched bitcoin backed loans to selected US states customers. 
According to the company, US customers in eligible states are now invited to join the waitlist for the option to borrow up to 30% of their Bitcoin holdings.

This is a ground breaking move for the company to enter into the DeFi ecosystem. With the increased crypto adoption and clear regulations by the federal government, the company is poised to get huge customers from the deal and likely to open up for global market.

”Customers in the following states can join the waitlist today: Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin, and Wyoming,” Coinbase stated in a medium blog.

Coinbase customers from the selected states will be in a position not to sell their crypto bag prematurely. As a result, they can have cash to spend on their daily needs and at the same time hold their coins for the anticipated rally.